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Multilateralism and preventive diplomacy are essential in produc tively addressing common interests and challenges, including issues related to nuclear security. Although the world knows about the successful negotiation of the Iran nuclear deal and the fate of the six-party talks to denuclearize the Korean peninsula, not much is known about the interaction of nuclear-weapon and non nuclear-weapon states. A notable example of such interaction is the not so well known agreements reached by the five nuclear weapon states (P5) and Mongolia regarding the latter’s nuclear weapon-free status and the significance of that status for efforts to strengthen regional confidence and predictability. Mongolia’s case demonstrates that given appropriate political atmosphere and goodwill, great powers and small states can come to agreements that advance their individual and common interests.